Mphasis net down by 24.6% at Rs 821.62 cr for year ended Oct

MUMBAI: IT company Mphasis today reported 24.67 per cent decline in net profit at Rs 821.62 crore for the financial year ended on October 31, 2011.

The company has posted Rs 1,090.75 crore net profit for Financial Year 2010.

The revenue of the company grew marginally by 1.2 per cent to Rs 5097.96 crore for FY 2011 compared to Rs 5036.52 crore it registered for FY'10.

"While our strong domain presence is resulting in growth within banking, financial services and insurance, we are now seeing good success in the infrastructure business, especially in India," Mphasis Chief Executive Officer Ganesh Ayyar said in a statement.

While profit of company from insurance and information technology, communication and entertainment segment witnessed marginal rise, its profit from banking and capital market segment, emerging industries and others took declined significantly.

Mphasis' revenue grew only in its insurance segment business.

Shares of the company today ended at Rs 324.75, up by 0.9 per cent compared to previous close at the BSE.